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ARTICLE · 23 APRIL 2015

Federal Budget 2015: Changes For Pension And Benefit Plans

Osler, Hoskin & Harcourt LLP
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On Tuesday, the federal government tabled its 2015 pre-election budget, which included a few announcements that will be of interest to employers.

CanadaEmployment and HR
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
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On Tuesday, the federal government tabled its 2015 pre-election budget, which included a few announcements that will be of interest to employers. Of particular note are the following announcements:

  • public consultations regarding the federal investment rules;
  • continued assessment of target benefit plans (TBP), including possible amendments of the Income Tax Act (ITA);
  • an initiative to promote harmonization of the requirements for pooled registered pension plans (PRPP) across Canada; and
  • changes to rules regarding tax free saving accounts (TFSA) and registered retirement income funds (RRIF).

Federal Investment Rules Consultation

In order to "reduce red tape and improve the investment climate in Canada", the government has indicated that it will undertake a public consultation on the usefulness of the 30% rule which restricts pension funds from holding more than 30% of the voting shares of a company. Any changes to this rule would apply to federally

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